Swiss authorities draw flak in Credit Suisse probe, report says

Preliminary findings in an eagerly awaited parliamentary report into the 2023 collapse of Credit Suisse have identified serious failings by Swiss regulatory authorities leading up the bank’s demise, a Swiss newspaper reported on Sunday.

Citing sources inside the parliamentary committee drawing up the so-called PUK report, SonntagsZeitung said financial market regulator FINMA, the Swiss National Bank (SNB) and the finance ministry all drew fire for failing to prevent the bank crash.